Fixed income: Drake, III climb


Fixed-income funds enjoyed their best month in more than two years, as the Absolute Return Fixed Income & High Yield Index appreciated 1.17% in April to total 3.11% for the year. One of the best performers was Drake Management's Absolute Return Fund, which netted 6% and now boasts a return of more than 20% in 2006. Warren Mosler's III Associates posted a gain of more than 3% for all six of its funds, while Moore Capital's Global Fixed Income Fund reported a juicy 2.04% rise. Meanwhile, BlackRock's Obsidian Fund was down on the month, but with higher Japanese